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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Interest Income      
Interest and fees on loans $ 65,987 $ 52,481 $ 68,255
Taxable income 10,778 9,484 11,976
Non-taxable income 0 346 1,551
Other interest income 1,223 820 503
Total interest income 77,988 63,131 82,285
Interest Expense      
Deposits 14,074 19,679 24,911
Retail repurchase agreements 29 52 98
Federal Home Loan Bank advances 1,448 2,547 3,517
Federal funds purchased 0 0 4
Other borrowed funds 1,157 1,298 2,105
Total interest expense 16,708 23,576 30,635
Net Interest Income before Provision for Loan Losses 61,280 39,555 51,650
Provision for loan losses 14,049 67,362 132,755
Net Interest Income/(Loss) after Provision for Loan Losses 47,231 (27,807) (81,105)
Noninterest Income      
Service charges on deposit accounts 7,080 6,203 7,358
Mortgage loan income 2,065 7 2,120
Cardholder and merchant services income 4,579 3,182 3,000
Trust and investment services 1,036 1,163 1,946
Bank owned life insurance 1,195 1,203 988
Other service charges, commissions and fees 1,128 770 1,067
Securities gains, net 4,121 7,298 10,647
Gain/(Loss) on fair value swap 0 (339) 273
Gain on extinguishment of debt 0 1,625 0
Other income 754 858 223
Total noninterest income 21,958 21,970 27,622
Noninterest Expense      
Personnel expense 40,051 27,725 25,931
Net occupancy expense 6,461 4,933 4,768
Furniture, equipment and data processing expense 8,721 6,648 6,744
Professional fees 5,266 7,335 3,680
Stationery, printing and supplies 637 471 491
Advertising and marketing 957 645 1,479
Other real estate owned expense 27,883 51,424 14,532
Credit/debit card expense 1,717 1,674 1,715
FDIC insurance 3,499 6,706 5,856
Loan collection expense 3,274 5,032 1,001
Merger-related expense 3,241 1,236 0
Mortgage servicing rights impairment 0 0 2,995
Prepayment penalty on borrowings 0 1,605 959
Loss on sale of loans held for sale 0 1,241 0
Core deposit intangible amortization 1,407 896 795
Other expense 7,092 7,469 4,733
Total noninterest expense 110,206 125,040 75,679
Loss from continuing operations, before income taxes (41,017) (130,877) (129,162)
Income tax expense (benefit) - continuing operations (1,039) 641 1,259
Loss from continuing operations, net of tax (39,978) (131,518) (130,421)
Loss from discontinued operations, net of tax (27) (5,796) (1,406)
Net loss (40,005) (137,314) (131,827)
Preferred stock gain on retirement, net of accretion, and dividends 0 44,592 (3,294)
Net loss to common shareholders $ (40,005) $ (92,722) $ (135,121)
Weighted average number of common shares outstanding - basic and diluted 21,368,460 4,196,926 114,240
Net loss per common share from continuing operations - basic and diluted $ (1.87) $ (20.71) $ (1,170.47)
Net loss per common share from discontinued operations - basic and diluted $ 0.00 $ (1.38) $ (12.31)
Net loss per common share - basic and diluted $ (1.87) $ (22.09) $ (1,182.78)